Core Viewpoint - The latest adjustment in the franchise policy of Mixue Ice City indicates a shift towards optimizing store layout and tightening new store openings, effective from June 11, 2025, reflecting a strategic response to market saturation and consumer demand [4][10][11]. Summary by Sections Franchise Policy Adjustments - Mixue Ice City has slowed its overall store opening pace and is focusing on developing multi-scenario stores [4]. - The company has undergone a cycle of tightening and loosening its opening strategies over the past year [5]. - From the second half of 2024, existing franchisees must meet a performance criterion of maintaining a top-tier score for seven consecutive months to qualify for new store applications [6][7]. - Only about 10% of franchisees meet this criterion, limiting expansion opportunities for many interested franchisees [8]. - In December 2024, the company slightly relaxed the opening requirements, allowing franchisees not in the lowest performance tier to apply for new stores [9]. New Store Layout Optimization - The upcoming policy emphasizes scientific planning and rational layout based on market capacity, consumer demand, and regional development potential [11]. - The company continues to encourage the establishment of multi-scenario stores in high-traffic areas such as scenic spots and transportation hubs [11]. Selection and Approval Process - As the total number of stores increases, the selection criteria for new store locations have become stricter, with many franchisees reporting difficulties in finding and getting approval for new locations [13][15]. - The company is particularly cautious about opening new stores in already developed areas, leading to increased competition for prime locations [15]. Focus on Special Channels - The trend in the industry is shifting towards special channels (referred to as "special channels"), which include high-traffic areas like campuses and transportation hubs, due to lower competition and higher consumer concentration [16][18]. - Some early franchisees are adjusting their strategies to focus on these special channel locations, recognizing their potential for stable customer flow and profitability [18]. Local Management Requirements - New franchise applications for certain underserved towns now require local residency and management by the franchisee, reflecting a strategy to ensure better operational success in less populated areas [19].